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A last-ditch attempt by Europe to revive the Iranian nuclear deal has stoked speculation that millions of barrels of oil are set to flood world markets. The return could be swift if Tehran’s previous comeback is any guide. View the full article
Tellurian Inc. announced that its subsidiary, Tellurian Production, closed on its previously announced acquisition of $125.5 million worth of assets in the Haynesville shale basin. View the full article
Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demanded in the country arrives via the United States, according to a new analysis by IHS Markit. View the full article
European gas prices surged more than 20% as Russia’s Gazprom PJSC confirmed that it halted gas flows to Bulgaria and Poland, saying it will keep supplies turned off until the two countries agree to Moscow’s demand for rubles -- a dramatic escalation with Europe as its invasion of Ukraine presses forward. View the full article
Venezuela intelligence police have transferred the six Citgo Petroleum Corp. executives who where under house arrest to its headquarters, lawyers for the men said. View the full article
Russia’s oil revenues are up 50% this year even as trade restrictions following the invasion of Ukraine spurred many refiners to shun its supplies, the International Energy Agency said. View the full article
The future of carbon storage moved a step closer today with 26 bids coming in for the UK’s first-ever carbon storage licensing round. View the full article
Natural gas won’t count as clean energy under a House Democratic plan that would eventually rid the electric grid of carbon and is part of the $3.5 trillion tax-and-spending package moving through Congress. View the full article
Devon agreed to acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin, for total cash consideration of $865 million. View the full article
In its November Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that rising production from OPEC+ countries and the United States will lead to global liquid fuels inventories increasing and crude oil prices falling in 2022. View the full article
The U.S. Coast Guard boarded a container ship that dragged its anchor near to a Southern California subsea pipeline that was the source of an oil spill earlier this month. View the full article
There’s “no immediate concern” about fuel supplies running short for consumers in the UK, Conservative MP Alok Sharma said Sunday. View the full article
As he opened the COP26 climate talks in November, Boris Johnson warned “it’s one minute to midnight” in the race to slash planet-heating carbon emissions. His government has since announced £37 billion of funding focused squarely on subsidizing the consumption of energy -- much of it fossil fuels. View the full article
The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted projections for supplies outside the OPEC cartel by 400,000 barrels a day as a price recovery spurs investment. View the full article
CGG announced the award to Sercel of a major contract to supply land seismic equipment for a 3D mega-crew survey in North Africa. View the full article
Shell Plc, ExxonMobil Corp., Chevron Corp. and Equinor ASA plan to withdraw multibillion-dollar lawsuits against Nigeria’s state energy company after finalizing new terms for deepwater oil production in Africa’s largest crude producer. View the full article
U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. View the full article
Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply. View the full article
Environmental groups sued the Biden administration to block its revival of plans to allow new oil drilling on public land in western states. View the full article
The agreement allows the consortium to acquire, promote and license multi-client seismic programs, including new 3D acquisition and legacy data reprocessing, in the shallow water acreage offshore Suriname. View the full article
Amplify Energy Corp. was charged with criminal negligence in California’s worst oil spill in almost three decades, in which an estimated 25,000 gallons (94,635 liters) of crude oil leaked from a submerged pipeline off the coast of San Diego. View the full article
Oil rose in tandem with equity markets as investors weighed the rapid spread of omicron against signs it may be milder than previous variants. View the full article
The U.S. shouldn’t ban the export of crude oil, a bipartisan group of House lawmakers said in a letter to President Joe Biden. View the full article
Bottlenecks in the global supply chain threaten to drive up renewable-power costs, reversing a decade-long trend that made wind and solar mainstream. View the full article
The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.